Eftpos Australia Unveils DLT Micropayments Trial With Hedera

Eftpos Australia Unveils DLT Micropayments Trial With Hedera
July 28, 2020

 

The shaky global economic scenario spurred gold to all-time highs last week, and Bitcoin (BTC) is catching up. The cryptocurrency proved its status as the king of cryptos by crossing the $10,000 mark firmly yesterday and hitting a yearly high of $11,326.50 earlier today. At the time of writing this article, the numero uno crypto was trading at $11,174.57, reflecting a gain of 11.4% in the past 24 hours and commanding a market cap of $205.26 billion. The dominance factor of Bitcoin stays almost unchanged at 62.1%.

Ether (ETH), which usually moves in tandem with Bitcoin, has gained only 0.3% in the past 24 hours to trade at $323.60. XRP, Ripple’s native crypto, has gained 2.9% to trade at $0.2247. Some of the major altcoins were also pulled up along with the Bitcoin. The gainers include Monero (XMR-$79.31, 0.8%), LEO (LEO-$1.24, 1.7%), Huobi (HT-$4.44, 2.5%), Ethereum Classic (ETC-$7.20, 4.80%), Litecoin (LTC-$53.68, 9.7%), EOS (EOS-$2.85, 3.8%), Dash (DASH-$78, 2.0%), Bitcoin SV (BSV-$211.46, 9.2%), Bitcoin Cash (BCH-$270.85, 7.7%), Binance Coin (BNB-$20.28, 4.5%) and OKB (OKB-$5.94, 3.7%).

Altcoins, which lost ground in the past 24 hours include IOTA (IOTA-$0.2716, -0.1%), Tron (TRX-$0.01857, -1.4%), ChainLink (LINK-$7.10, -3.2%), Cosmos (ATOM, $3.62, -5%), Stellar (XLM-$0.0949, -4.8%), Tezos (XTZ-2.82, -3.5%), and Cardano (ADA-$0.1382, -6.1%).

 

Government level initiatives

Ministry for Digital Transformation, Ukrain, deploys Bitfury’s crypto analytics tool

Ukraine’s Ministry for Digital Transformation, the government organization looking into the aspects of cryptocurrency regulation, is deploying Bitfury’s cryptocurrency analytics tool to monitor cryptocurrency dealings. In this regard, the Ministry has inked a deal with Bitfury to utilize the latter’s cryptocurrency compliance tool named “Crystal.”

In early 2018, Bitfury launched Crystal, a software platform developed to battle fraud related to cryptos such as Bitcoin (BTC). Crystal will share its expertise with the Ministry and enable the officials to professionally track digital asset dealings using the Crystal platform.

The primary objective of the partnership is the “rapid formation and legalization of the market of virtual assets in Ukraine.” By deploying Crystal’s analytics tools, the Ukraine government anticipates validating the origin of illegal dealings.

Kyrylo Chykhradze, product director at Crystal Blockchain, trusts that the partnership will result in the mainstream adoption of its analytics tool. He said:

“The Crystal Blockchain team is delighted to assist the Ukrainian government as the country steadily moves towards further crypto adoption. We are proud to assist with the application of AML legislation in Ukraine.”

As per information provided on Crystal’s website, the platform favors an extensive number of cryptos such as Bitcoin (BTC), Tether (USDT), Ether (ETH), XRP and Bitcoin Cash (BCH), in addition to cryptos following ERC-721 and ERC-20 standard, referred to as non-fungible tokens. The tool, however, will not be of great assistance in tracking privacy-focused cryptos such as Monero (XMR) and Zcash (ZEC).

 

Private sector initiatives

Eftpos joins up with Hedera for micro-payments PoC

Australia’s top PoS (point-of-sale) technology provider Eftpos has entered into a collaboration with distributed ledger technology firm Hedera to carry out a micropayments PoC (Proof of Concept) using a stablecoin pegged to the Aussie. Stephen Benton, CEO of Eftpos, pointed out that the partnership with Hedera is one of the steps towards a broader digital payments innovation plan aimed at modernizing the country’s payment network.

The trial intends to illustrate how micro-payments can be utilized to provide advanced payment solutions, such as “pay per page content or streaming services on a pay-per-second basis.”

As mentioned earlier, the PoC (proof-of-concept) will be backed by a stablecoin pegged to the Aussie via Hedera’s consensus facility.

Robert Allen, Eftpos’ ‘Entrepreneur in Residence’ and the deputy chair of Blockchain Australia, underlined that the PoC is one of the steps towards diversification plan being developed by the company over the past two years.

Allen said, “Diversification for Eftpos means getting on the front foot in terms of the future, it’s about how innovation is flooding into the payments space, and how we can stay one step ahead of all of that.”

Moving forward, Allen expects Eftpos to study the feasibility of “realtime payment for streaming of content,” along with “subsidy payments [to consumers] for listening to or watching content in realtime.”

 

Opera partners with Ramp for crypto purchases in the UK

Opera, which offers a namesake browser, has taken another initiative to cement its position in the cryptocurrency arena. The tech firm’s crypto wallet can now be topped up in the UK. Opera launched a cryptocurrency wallet two years ago for Android users. Opera, which introduced the service in the US and a handful of EU countries a few months ago, has partnered with cryptocurrency processor Ramp to facilitate cryptocurrency purchases in the UK. The crypto buying facility employs European Open banking APIs to offer low fee cryptocurrency purchases via bank accounts or mobile banking app Revolut.

Charles Hamel, chief of crypto at Opera, revealed that customers would also be able to purchase Ether (ETH) at the time of rollout and more cryptos will be added soon.

Opera’s cryptocurrency wallet supports Bitcoin (BTC), Ether, and many more ERC-20 and ERC-721 tokens. The wallet boasts of over 170,000 monthly active users.

Regarding the service, Hamel said, “This means we largely cover most of the top 100 digital assets.”

 

Miscellaneous

Chainalysis launches Chainalysis Cryptocurrency Fundamentals Certification course

Chainalysis, the New York-headquartered blockchain-focused analytics firm, is broadening the reach of its blockchain certification program, named Chainalysis Cryptocurrency Fundamentals Certification (CCFC), to non-tech professionals in the financial services industry, government executives and general crypto enthusiasts.

Earlier, the course was restricted to users of compliance and investigation tools offered by Chainalysis. Being one of the renowned analytics firms in the blockchain intelligence sector, Chainalysis builds investigation tools that facilitate companies, law enforcement organizations, and governments to track blockchain dealings and other dubious transactions.

The CCFC program has been structured to offer credibility to participants along with a basic knowledge of cryptocurrency technology, in-depth knowledge of key participants in the sector, real-world use cases, and applications of cryptos with reference to the conventional financial system.

The two day CCFC course, currently offered online due to the COVID-19 pandemic, includes group discussions, case studies, and real-life executes. There are no pre-conditions to apply. Upon completion of the course, the institution offers a two-year CCFC credential in the form of a LinkedIn badge and digital certificate.

Tim Simpson, a compliance analyst at Bittrex crypto exchange, explained the benefits of the program: “The majority of individuals do not have the time or technical expertise to filter through the endless amount of information about cryptocurrency to focus on what matters. For individuals with a non-technical background or those needing to become quickly up-to-date on how cryptocurrency really works, the CCFC course provides a focused, well-organized, and active learning experience.”

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.

Ian Maguire

Ian Maguire

Ian is our resident contributor to the latest going ons in the cryptomarket, keeping up to date with the latest icos and coins


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